It’s just my nature to be a wide eyed optimist. I tend to see the good in people, always hope for the best, and still believe in happy endings. That’s why it’s out of character for me to be so concerned about what’s coming in our Country’s near future. I’ve read all the literature and talked to some experts and, in spite of my positive attitude, there’s no avoiding the fact that we’re headed for a Great Recession, if not a Depression.
So what do we do? The experts have lists of precautions we should take, but I’ve chosen the ones I think will be most helpful if a recession, or God forbid, a depression were to come about.
First: Prepare as for any emergency. Stock up on survival supplies: water, fuel, non-perishable foods, medications, personal hygiene items, batteries, flashlight and water purifying tablets.
Next: Save as much as you can. If you have the money to buy gold or silver, do it. If you can pre-pay your mortgage and pay off your credit cards, do it. It’s best to be as debt free as possible. At the very least you should have an emergency fund that equals 3 months of living expenses.
Finally: Learn to prepare inexpensive meals from scratch. Get a cookbook like Depression Era Recipes by Patricia R. Wagner or Stories and Recipes of the Great Depression of the 1930's, Volume III by Rita Van Amber Paske.
Remember to keep a positive attitude. Remind yourself: "This too will pass." The best way to prepare for a coming Recession or Depression is simply that: TO PREPARE!
Hard to do if your household is depressed worst (and long before) then the rest!
ReplyDeleteAs always, bad times make it harder for the middle class and poor and "the rich get richer". This is good advise if you have a little money to do it with. The rich have enough money to not only protect themselves, but to profit from a depression or recession. I agree with all you said though and am taking your advise. I stocked up on water and supplies for hurricane season anyway and I'm learning a million ways to make pasta and hamburger meat!
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